Trading of Shinepukur Ceramics, ACI Formulations begins today
Tuesday, 18 November 2008
FE Report
The Shinepukur Ceramics Limited (SCL) and ACI Formulations Limited (AFL) make debut today (Tuesday) in the country's both the bourses under the direct listing regulations.
The two issues will be the first private companies to be traded under direct listing regulations after five-state owned enterprises.
Shinepukur Ceramics, a subsidiary of Beximco Limited, will offload 3,50,11,800 ordinary shares of Tk 10 each, totaling Tk 350 million. This is 50 percent of its existing paid-up capital of Tk 700 million.
The Earnings per share (EPS) of SCL is Tk 1.97 and its net asset value (NAV) is Tk 15.66. It has posted net profit Tk 130 million last year.
Starting commercial operation in 1999, the SCL, the subsidiary company of Beximco Group, has two independent units producing high quality porcelain and bone china tableware.
The porcelain unit has a capacity of 65,000 pieces a day, while the capacity of the bone china unit being 10,000 pieces a day.
"Shinepukur ceramics is the single largest exporter of ceramic tableware of the country and contributes around 50 percent of the total export of tableware from Bangladesh," SCL Chairman Nazmul Hassan said in a projection meeting in a city hotel Monday.
Beximco Group Deputy Chairman Salman F Rahman were present in the meeting.
The production capacity of bone-china will be doubled and porcelin will be increased by 33 per cent because of their huge market demand, according to Nazmul.
The Shinepukur has successfully developed a substantial export market for the top-of-the-line bone china and porcelain tableware and the customer portfolio now includes world-renowned tableware companies in the UK, USA, Spain, Italy, Australia, New Zealand, Norway, Sweden, Russia, UAE, Denmark, Germany, France, Mexico, and Turkey.
The fund raised from the stock market will be utilized for investment in Beximco's subsidiary companies (including SCL) for expansion of their capacities, repayment of their debts, diversification of their businesses and providing their working capital.
The AFL will offload 89,87,500 ordinary shares of Tk 10 each.
ACI, which has investments in pharmaceuticals, consumer brands and commodity products, agribusinesses, crop care and public health, livestock and fisheries, fertiliser and seeds business, made net profits of over Tk 362 million in 2007. The company posted net profits of Tk 171 million as of June 30.
EPS of the company, which listed on the stock exchange in 1976, were Tk 21.04 in 2007. As of June 30, the EPS was Tk 10.63.
ACI's paid-up capital is Tk 162 million.
The Shinepukur Ceramics Limited (SCL) and ACI Formulations Limited (AFL) make debut today (Tuesday) in the country's both the bourses under the direct listing regulations.
The two issues will be the first private companies to be traded under direct listing regulations after five-state owned enterprises.
Shinepukur Ceramics, a subsidiary of Beximco Limited, will offload 3,50,11,800 ordinary shares of Tk 10 each, totaling Tk 350 million. This is 50 percent of its existing paid-up capital of Tk 700 million.
The Earnings per share (EPS) of SCL is Tk 1.97 and its net asset value (NAV) is Tk 15.66. It has posted net profit Tk 130 million last year.
Starting commercial operation in 1999, the SCL, the subsidiary company of Beximco Group, has two independent units producing high quality porcelain and bone china tableware.
The porcelain unit has a capacity of 65,000 pieces a day, while the capacity of the bone china unit being 10,000 pieces a day.
"Shinepukur ceramics is the single largest exporter of ceramic tableware of the country and contributes around 50 percent of the total export of tableware from Bangladesh," SCL Chairman Nazmul Hassan said in a projection meeting in a city hotel Monday.
Beximco Group Deputy Chairman Salman F Rahman were present in the meeting.
The production capacity of bone-china will be doubled and porcelin will be increased by 33 per cent because of their huge market demand, according to Nazmul.
The Shinepukur has successfully developed a substantial export market for the top-of-the-line bone china and porcelain tableware and the customer portfolio now includes world-renowned tableware companies in the UK, USA, Spain, Italy, Australia, New Zealand, Norway, Sweden, Russia, UAE, Denmark, Germany, France, Mexico, and Turkey.
The fund raised from the stock market will be utilized for investment in Beximco's subsidiary companies (including SCL) for expansion of their capacities, repayment of their debts, diversification of their businesses and providing their working capital.
The AFL will offload 89,87,500 ordinary shares of Tk 10 each.
ACI, which has investments in pharmaceuticals, consumer brands and commodity products, agribusinesses, crop care and public health, livestock and fisheries, fertiliser and seeds business, made net profits of over Tk 362 million in 2007. The company posted net profits of Tk 171 million as of June 30.
EPS of the company, which listed on the stock exchange in 1976, were Tk 21.04 in 2007. As of June 30, the EPS was Tk 10.63.
ACI's paid-up capital is Tk 162 million.